EvoNexus, San Diego’s oldest startup incubator, aims to help fledgling companies achieve sustainability.
Now the nonprofit organization is taking steps to ensure its own long-term survival.
Since inception, between financings and exits, companies in EvoNexus’ portfolio have had “funding and outcomes” worth $1.27 billion, according to the incubator. But the organization ended 2015, the last year for which data is publicly available, with a loss of nearly $82,000.
Companies that go through the program have no financial obligations to EvoNexus.
“Unlike most other incubators, which offer seed funding in exchange for equity, EvoNexus leverages community resources to provide the tools that our most promising entrepreneurs need, without requiring them to surrender equity in return,” its website says.
Read more here and in the Feb. 5 edition of the San Diego Business Journal.